Impact of new tax bill on value of real estate

[Marco Van Basten]

WIth the caveat that I am neither a tax attorney nor a tax accountant, it seems to me that the new tax bill (aka Big Beautiful Bill) has dramatically increased tax advantages of investing in real estate.  (If I understand correctly, essentially writing off rather than capitalizing all expenditures on assets with lives less than 15 years and also significantly increasing write-off on purchases of buildings.)  So shouldn't that logically lead to lower cap rates and higher valuations?